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Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first quarter of the year, it seems that the market dodged a bullet and escaped unscathed from the tonnage oversupply concerns. According to the latest weekly report from shipbroker Intermodal, the first quarter proved to be a positive one for most of the mid-to-small sizes, like Panamaxes, Supras and Handies. Time-charter equivalent earnings have brought some relief as earnings improved and moved to a positive territory beyond the point of covering their operating expenses.
According to Intermodal's S&P shipbroker Yannis Olziersky, "the strong demand for tonnage is driven mainly by the South American grain season, which pushed Panamax rates to an unexpectedly significant improvement. In the Pacific, Panamaxes also found support due to the increased demand for Indonesian exports such as iron ore, bauxite, nickel ore and coal. As a result the BPI during March averaged at around 1,147 points, with rates for a front haul voyage rising up to US$ 18,000/day and round voyages in the Far East edging up to US$ 10,000/day.
Smaller segments like Supras and Handies gained higher returns due to the grain season and their indices where raised by 30% and 20% respectively. On the other hand, weak demand persisted in the Cape size market, which failed to sustain gains. Disruptions in mineral cargo supply like iron ore and coal combined with the massive supply of vessels have driven the Cape size average T/C earnings to sink below US$ 5,000/day, which is the lowest level since Q3 2012", Olziersky said.
He added that "the upward trend in freight rates during Q1 2013 has also affected asset values. Second hand prices have been inched up in all segments (including Capers despite their downward trend in freight). Additionally, activity on the second hand market has also picked up significantly. A comparison between the dry bulk units sold back in Q1 2012 and those reported sold in Q1 2013, points towards an increase in activity by as much as 40pct.
The million dollar question is whether we have seen the bottom on asset values or not. Quite hard and risky to say, however certain things show that present values are attractive enough and, in the mind of some owners, prices have indeed touched the ground. Some facts which may support this perspective are:
Prices in all segments and especially for quality modern tonnage have shown a noticeable upward correction since February/January.
- Major players whom are traditional shipowners are buying vessels and appear to have appetite for more.
- A significant number of Buyers are inspecting quality tonnage that enters the market. In some occasions we hear more than 20 parties inspecting and chasing the same vessel!
- Orderbook to fleet ratio has been reduced significantly and today stands at 16% compared to last year which was at around 26%.
- Fleet removals are still going at a satisfactory pace. Upheld firm demo prices are assisting owners in making the difficult decision to scrap their older units", the shipbroker stated in the report.
He went on to conclude his argument by raising the questions of "Are we moving towards the right direction? and "Is this the right time for investments?. Two questions which time can only answer but by which time it may well be too late to get on board. Given the present facts and market trends though, we feel we may be witnessing a glimpse of hope and a glimmer at the end of the tunnel", he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping news
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Tuesday, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- Attock Cement Pakistan Limited
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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